Our Revolution: on Corporations

Bernie Sanders: End corporate tax dodging by shifting profits overseas

The Corporate Tax Dodging Prevention Act would end the loophole that allows corporations to defer paying taxes on overseas profits. Instead, it would require corporations to pay U.S. taxes on offshore profits as they are earned. This bill would take away the tax incentives for corporations to shift profits and move jobs and factories offshore, by taxing their profits no matter where they are generated. American corporations would continue to get a credit against their U.S. tax liability for foreign taxes they pay, but they would have to pay the federal government the difference between the foreign rate and the U.S. rate.

Bernie Sanders: Too-Big-to-Fail means taxpayers insure megabanks

We need a banking system that encourages homeownership by offering affordable mortgage products that are designed to work for both the lender and the borrower. We need a banking system that is transparent and accountable, and that adheres to the highest ethical standards as well as to the spirit and the letter of the law.

Breaking up the big banks would reduce systemic risk in our financial system. It would also mean increased competition. Oligopolies--where the market is dominated by just a few economic actors--are never good for consumers. Smaller banks are more likely to offer affordable financial products that Americans actually want and need.

Bernie Sanders: Reform credit-rating agencies by separating from Wall Street

The reason these risky financial schemes were given such favorable ratings is simple: Wall Street paid for them. Rather than providing useful risk information to investors (which is the reason they exist in the first place), the credit-rating agencies were colluding with Wall Street, because that's where the money was.

Bernie Sanders: Corporate Media threatens our democracy

Media is not just about what is covered and how it is covered. More importantly, it is about what is NOT covered. And those decisions, of what is and is not covered, are made by human beings who often have major conflicts of interest.

As a general rule of thumb, the more important the issue is to large numbers of working people, the less interesting it is to corporate media. The less significant it is to ordinary people, the more attention the media pays. Further, issues being pushed by the top 1% get a lot of attention. Issues advocated by representatives of working families, not so much. This was, to be honest, not a new revelation to me. I had seen it for years as a congressman.

Bernie Sanders: A few giant corporations own the media

In 1983 the largest fifty corporations controlled 90 percent of the media. That's a high level of concentration. Today, as a result of massive mergers and takeovers, six corporations control 90 percent of what we see, hear, and read. This is outrageous, and a real threat to our democracy.

Bernie Sanders: It is time to break up largest financial institutions

Reforming Wall Street: It is time to break up the largest financial institutions in the country. Wall Street cannot continue to be an island unto itself, gambling trillions in risky financial instruments while expecting the public to bail it out. If a bank is too big to fail it is too big to exist. We need a banking system which is part of the job-creating productive economy, not a handful of huge banks on Wall Street which engage in reckless and illegal activities.

Bernie Sanders: Rigged economy makes America like a Banana Republic

But it is not just a grotesque level of WEALTH disparity that we are experiencing. It is also horrendous inequality in terms of INCOME, the amount that we earn every year. Incredibly, in the last several years, 52 percent of all new income being generated in this country is now going to the top 1 percent.

When we were kids, we read about "Banana Republics" in Latin America and other oligarchic societies that existed in countries around the world, where a handful of families held almost all of the wealth & power. Fellow Americans, take a look around you. See what's going on in our country today. This obscene level of inequality is immoral. It is bad economics. It is unsustainable. This type of rigged and unfair economy is not what America is supposed to be about. And it's not what America used to be.

Brian Schatz: End corporate tax dodging by shifting profits overseas

The Corporate Tax Dodging Prevention Act would end the loophole that allows corporations to defer paying taxes on overseas profits. Instead, it would require corporations to pay U.S. taxes on offshore profits as they are earned. This bill would take away the tax incentives for corporations to shift profits and move jobs and factories offshore, by taxing their profits no matter where they are generated. American corporations would continue to get a credit against their U.S. tax liability for foreign taxes they pay, but they would have to pay the federal government the difference between the foreign rate and the U.S. rate.

Jan Schakowsky: End corporate tax dodging by shifting profits overseas

The Corporate Tax Dodging Prevention Act would end the loophole that allows corporations to defer paying taxes on overseas profits. Instead, it would require corporations to pay U.S. taxes on offshore profits as they are earned. This bill would take away the tax incentives for corporations to shift profits and move jobs and factories offshore, by taxing their profits no matter where they are generated. American corporations would continue to get a credit against their U.S. tax liability for foreign taxes they pay, but they would have to pay the federal government the difference between the foreign rate and the U.S. rate.